Junior College

U.S. trade representative's office to hear corporations' case against tariffs

After top Trump officials went to Beijing last month, the Chinese government wrote up a document with a list of economic and trade demands that ranged from the reasonable to the ridiculous.

Mexican Economy Minister Ildefonso Guajardo said on Tuesday said that he doesn't think a pact will be secured this week, which may push talks into later this year. That round begins this week when Xi Jinping's special economic envoy Liu He returns to town.

Now, Trump wants to make ZTE great again.

A long-running dispute between American regulators and Chinese telecom company ZTE may have handed President Donald Trump some unexpected leverage in avoiding a trade war with Beijing.

Or, maybe Trump didn't want to anger the benevolent Chinese government folks who are financing his Indonesian hotels and golf courses to the tune of $500 million or more.

The latest indignity for Ross is Trump's reversal of sanctions on Chinese telecom giant ZTE, which was barred on April 16th by Ross' Commerce Department from importing goods from the USA, as punishment for its repeated violations of US sanctions against North Korea and Iran. "That's an area where we will be exploring very, very promptly".

What the heck happened here?

Earlier this month, the USA presented China with a list of demands that tackle allegations of intellectual property theft and other trade policies Washington considers unfair, which had sparked the initial "trade war" concerns as the two countries were imposing tens of billions of dollars in tariffs on each other.

President Donald Trump has threatened tariffs on imports of Chinese goods, and China has threatened to retaliate with duties on U.S. products, including food items such as pork, beef and soybeans.

Hu notes that President Trump's "America First" economic nationalism harks back to the ideas of Alexander Hamilton, who argued in 1791 that free trade would work only "if the system of ideal liberty to industry and commerce were the prevailing system of nations". "The Chinese reaction was pretty vociferous". "The idea that we did it and then reversed ourselves is terrible".

"Trump's tweet creates an atmosphere where there's more hope for reaching an agreement on trade", said David Dollar, senior fellow at the Brookings Institution and a former official at the World Bank and the U.S. Treasury Department.

A number of members on this committee has raised concerns about certain of the Chinese telecom companies and their penetration into the American market. That's not only bad negotiating.

Nobody knows whether Trump will approve whatever "deal" Mnuchin and company put on his desk after the next round of talks.

The United States agrees to strengthen protection of Chinese intellectual property. President Trump surprised observers on Sunday when he opened the door to a deal by pledging to reverse that ban, saying the sanctions destroyed too many Chinese jobs.

The two countries failed to reach an agreement on the long list of USA demands, and made a decision to resume talks in Washington. However, many people are saying the project may be called, "The Emoluments at Trump Preserve". But Trump's unforced error on ZTE undermines the entire effort.